The civic record
Read. Follow. Verify.Employee Paycheck and Small Business Protection Act
Record date · December 19, 2024
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What This Bill Would Do
This bill creates a new federal insurance program to fully protect business and non-profit transaction accounts up to $100 million at banks and credit unions. It also establishes a temporary emergency guarantee program to protect these accounts during periods of financial instability.
If passed, this bill would change how much money businesses, non-profits, and municipalities can keep in insured accounts, potentially protecting payroll and vendor payments from loss if their financial institution fails.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Businesses and non-profits
These entities may have their transaction account balances fully insured up to $100 million.
Insured depository institutions
These institutions must participate in data collection and may be subject to new assessments or premiums.
Insured credit unions
These institutions must participate in data collection and may be subject to new assessments or premiums.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What kind of accounts are covered?
Is there a limit to the insurance coverage?
What happens if the FDIC or NCUA fails to issue final rules?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently filed. The next step in the legislative lifecycle is Committee.
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Expansion of Federal Insurance
The bill represents a significant shift from the standard $250,000 FDIC/NCUA insurance limit by creating a specific $100 million tier for business transaction accounts.
Connected Entities
Sources
www.congress.gov
Analysis Score
0–100- Significance85How much this matters to a regular citizen
- Controversy60Intensity of disagreement among stakeholders
- Entertainment20Compellingness for a non-policy-wonk reader
- Buzz40Current news / social attention level
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